293,381 Shares in Level 3 Communications, Inc. (NYSE:LVLT) Acquired by Hunting Hill Global Capital LLC

Hunting Hill Global Capital LLC acquired a new stake in Level 3 Communications, Inc. (NYSE:LVLT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 293,381 shares of the technology company’s stock, valued at approximately $17,397,000. Level 3 Communications accounts for about 4.5% of Hunting Hill Global Capital LLC’s investment portfolio, making the stock its 7th largest position. Hunting Hill Global Capital LLC owned about 0.08% of Level 3 Communications as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in LVLT. BlackRock Inc. increased its position in shares of Level 3 Communications by 3,123.2% in the first quarter. BlackRock Inc. now owns 17,934,620 shares of the technology company’s stock valued at $1,026,218,000 after buying an additional 17,378,193 shares during the period. Fiduciary Management Inc. WI increased its position in shares of Level 3 Communications by 39.9% in the first quarter. Fiduciary Management Inc. WI now owns 7,787,706 shares of the technology company’s stock valued at $445,613,000 after buying an additional 2,220,086 shares during the period. Glazer Capital LLC acquired a new position in shares of Level 3 Communications during the first quarter valued at approximately $57,795,000. Bank of America Corp DE increased its position in shares of Level 3 Communications by 78.1% in the first quarter. Bank of America Corp DE now owns 2,223,398 shares of the technology company’s stock valued at $127,224,000 after buying an additional 975,316 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Level 3 Communications by 3.1% in the first quarter. Vanguard Group Inc. now owns 28,430,311 shares of the technology company’s stock valued at $1,626,782,000 after buying an additional 866,828 shares during the period.

Level 3 Communications, Inc. (NYSE LVLT) traded down 0.57% during mid-day trading on Friday, reaching $52.69. The company had a trading volume of 1,781,106 shares. The company has a market capitalization of $19.11 billion, a price-to-earnings ratio of 29.97 and a beta of 1.23. The firm’s 50 day moving average price is $57.57 and its 200-day moving average price is $58.65. Level 3 Communications, Inc. has a 12 month low of $44.01 and a 12 month high of $64.61.

Level 3 Communications (NYSE:LVLT) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.06 billion. Level 3 Communications had a net margin of 7.85% and a return on equity of 5.80%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. Equities research analysts anticipate that Level 3 Communications, Inc. will post $1.42 earnings per share for the current year.

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LVLT has been the topic of a number of recent research reports. BidaskClub downgraded Level 3 Communications from a “strong-buy” rating to a “buy” rating in a research report on Saturday, June 24th. Jefferies Group LLC decreased their price objective on Level 3 Communications from $64.00 to $59.00 and set a “hold” rating for the company in a research note on Thursday, May 4th. UBS AG restated a “buy” rating and set a $68.00 price objective (down from $71.00) on shares of Level 3 Communications in a research note on Tuesday, July 18th. Zacks Investment Research cut Level 3 Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Finally, Barclays PLC restated an “equal weight” rating and set a $59.00 price objective (down from $61.00) on shares of Level 3 Communications in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company’s stock. Level 3 Communications presently has an average rating of “Hold” and a consensus target price of $61.36.

In other news, SVP Eric Mortensen sold 1,189 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $70,269.90. Following the transaction, the senior vice president now owns 77,944 shares in the company, valued at approximately $4,606,490.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Sunit S. Patel sold 16,653 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $59.10, for a total transaction of $984,192.30. Following the completion of the sale, the vice president now directly owns 545,330 shares in the company, valued at approximately $32,229,003. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,224 shares of company stock valued at $1,668,038. Company insiders own 0.49% of the company’s stock.

About Level 3 Communications

Level 3 Communications, Inc is a provider of a range of integrated communications services. The Company’s operating segments include North America, EMEA and Latin America. The North America includes operations in Atlanta, Georgia; Littleton, Colorado; Miami, Florida; Montreal, Canada; New York, New York; Phoenix, Arizona; Pittsburgh, Pennsylvania; Southfield, Michigan, and Tulsa, Oklahoma.

Institutional Ownership by Quarter for Level 3 Communications (NYSE:LVLT)

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